DC-DC converters can be used in a wide variety of power electronic applications to step up or step down the voltage from an input DC supply to an output DC load. Standard single phase DC-DC converters often include semiconductors (e.g., a diode and a transistor), an inductor, and one or more capacitors used to reduce voltage ripple. It is known that DC-DC converters having a 3-level structure or topology can offer certain operational advantages over traditional two-level DC-DC converters. Specifically, by structuring the DC-DC converter with a 3-level topology, it is possible to reduce the voltage stresses on the switching devices and increase the current ripple frequency through the inductor, thus increasing the power conversion efficiency (PCE) and enabling smaller electronic components to be employed in the system. It is also possible to increase the PCE in such systems by utilizing more efficient switching devices and inductors in the converter, or by modifying the converter's modulation pattern. Even so, it is desirable to further improve the PCE in DC-DC converters for use in certain power electronic applications, such as in uninterruptible power supplies (UPS) and adjustable speed drives (ASD).